Hotel Tax Strategic Discussion
November 25, 2013

1
Presentation Overview
 Overview of Hotel Tax Uses – Scott Joslove, Texas
Hotel and Lodging Association
 Strategic Uses D...
Policy Issue

 Utilize Hotel Tax funds within the uses allowed by
State law to encourage tourism and visitors into
Colleg...
Hotel Tax Revenues
• FY 07

$2,980,250

• FY 08

$3,585,512

• FY 09

$3,574,649

• FY 10

$3,416,713

• FY 11

$3,558,042...
Hotel Tax Revenue
 Revenue Estimate for FY 14
– Original Estimate

$4,246,000

– Revised Estimate

$4,478,000

– 2.5% Inc...
Hotel Tax Uses
 FY 14 Budgeted Expenditures – City Operations:
– Parks Programs and Events

$492,000

– Sports Tournament...
Hotel Tax Uses
 FY 14 Budgeted Expenditures – Outside Agency Funding
– Convention & Visitors Bureau

$1,379,340

– Conven...
Hotel Tax Fund Financial Forecast

8
Hotel Tax Fund Financial Forecast

9
Conclusions
 Anticipate seeing continued revenue growth
 Given current obligations and projections fund
balance is proje...
Conclusions
 Potential Chimney Hill property sale proceeds
will go to Hotel Tax Fund
– Not included in forecast

 Resour...
Council
Discussion and Direction
Policy Issue
 Utilize Hotel Tax funds within the uses allowed
by State law to encourage ...
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Hotel Occupancy Tax Uses

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Hotel Occupancy Tax Uses

  1. 1. Hotel Tax Strategic Discussion November 25, 2013 1
  2. 2. Presentation Overview  Overview of Hotel Tax Uses – Scott Joslove, Texas Hotel and Lodging Association  Strategic Uses Discussion – Available Funds/Revenue Projections – Current Obligations – Financial Forecast  Discussion and Direction 2
  3. 3. Policy Issue  Utilize Hotel Tax funds within the uses allowed by State law to encourage tourism and visitors into College Station thereby improving the economy. 3
  4. 4. Hotel Tax Revenues • FY 07 $2,980,250 • FY 08 $3,585,512 • FY 09 $3,574,649 • FY 10 $3,416,713 • FY 11 $3,558,042 • FY 12 $3,644,137 • FY 13 $4,368,694 46.6% Increase from FY 07 to FY 13 4
  5. 5. Hotel Tax Revenue  Revenue Estimate for FY 14 – Original Estimate $4,246,000 – Revised Estimate $4,478,000 – 2.5% Increase over FY 13 actual 5
  6. 6. Hotel Tax Uses  FY 14 Budgeted Expenditures – City Operations: – Parks Programs and Events $492,000 – Sports Tournament Rev Fund $200,000 – Preferred Access Payment $229,167 – Administration/Audit Services – Contingency – Total $45,000 $50,000 $1,016,167 6
  7. 7. Hotel Tax Uses  FY 14 Budgeted Expenditures – Outside Agency Funding – Convention & Visitors Bureau $1,379,340 – Convention and Visitors Bureau Grant Program $128,000 – Arts Council Operations and Maintenance $50,000 – Arts Council Affiliates $365,000 – B/CS Chamber Total $25,000 $1,947,340 7
  8. 8. Hotel Tax Fund Financial Forecast 8
  9. 9. Hotel Tax Fund Financial Forecast 9
  10. 10. Conclusions  Anticipate seeing continued revenue growth  Given current obligations and projections fund balance is projected to increase by $1.4 - $2.3 million per year.  Veteran’s Park Synthetic Fields – Phase 1 – Under Construction – Phase 2 – Scheduled for FY 2016 10
  11. 11. Conclusions  Potential Chimney Hill property sale proceeds will go to Hotel Tax Fund – Not included in forecast  Resources available for ongoing and 1 Time Expenditures 11
  12. 12. Council Discussion and Direction Policy Issue  Utilize Hotel Tax funds within the uses allowed by State law to encourage tourism and visitors into College Station thereby improving the economy. 12

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